Griffin Securities Raises Earnings Estimates for TechnipFMC

TechnipFMC plc (NYSE:FTI - Free Report) - Investment analysts at Griffin Securities upped their Q4 2024 earnings per share estimates for shares of TechnipFMC in a research report issued to clients and investors on Thursday, October 31st. Griffin Securities analyst K. Simpson now forecasts that the oil and gas company will post earnings of $0.33 per share for the quarter, up from their prior forecast of $0.32. The consensus estimate for TechnipFMC's current full-year earnings is $1.42 per share. Griffin Securities also issued estimates for TechnipFMC's Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.57 EPS, Q3 2025 earnings at $0.61 EPS, FY2025 earnings at $2.06 EPS and FY2026 earnings at $2.46 EPS.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The business's revenue was up 14.2% on a year-over-year basis.

Other research analysts have also recently issued reports about the stock. Barclays boosted their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. HSBC raised TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price objective for the company in a report on Tuesday, October 29th. TD Cowen raised their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Bank of America upped their price target on TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Finally, Citigroup lifted their price objective on TechnipFMC from $31.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of "Moderate Buy" and a consensus target price of $32.41.

TechnipFMC Stock Performance

FTI traded up $0.11 during trading on Monday, hitting $26.39. 1,671,127 shares of the company traded hands, compared to its average volume of 4,058,247. TechnipFMC has a one year low of $18.33 and a one year high of $29.85. The stock's fifty day moving average is $26.12 and its 200 day moving average is $26.20. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The firm has a market cap of $11.23 billion, a P/E ratio of 17.36 and a beta of 1.51.

Hedge Funds Weigh In On TechnipFMC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in shares of TechnipFMC by 43.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company's stock valued at $211,000 after acquiring an additional 2,543 shares during the last quarter. Norden Group LLC lifted its position in TechnipFMC by 99.9% during the first quarter. Norden Group LLC now owns 25,260 shares of the oil and gas company's stock valued at $634,000 after purchasing an additional 12,626 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in TechnipFMC in the 1st quarter worth approximately $205,000. Whittier Trust Co. bought a new position in shares of TechnipFMC in the 1st quarter worth $29,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of TechnipFMC during the 1st quarter valued at $656,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. TechnipFMC's dividend payout ratio (DPR) is presently 13.16%.

TechnipFMC declared that its board has approved a share buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.